AECC AEC(SZ:000738)2015-04-20 16:00Financial Performance - The company achieved operating revenue of CNY 2,575,882,344.94 in 2014, a decrease of 1.39% compared to the previous year[23]. - Net profit attributable to shareholders was CNY 184,974,970.06, down 9.03% year-on-year[23]. - The company reported a basic earnings per share of CNY 0.1615, reflecting a decline of 19.73% from the previous year[23]. - Total assets increased by 0.71% to CNY 6,514,083,421.07 at the end of 2014[23]. - The weighted average return on equity was 4.13%, down from 6.22% in the previous year[23]. - The company’s total profit for the year was CNY 21,968,740, a decrease of 12.2% compared to the previous year[31]. - Cash flow from operating activities was CNY 138,144,437.89, an increase of 3.72% year-on-year[23]. - The company’s net assets attributable to shareholders increased by 3.71% to CNY 4,565,925,257.76[23]. - The company's revenue for 2014 was CNY 257,558 million, a decrease of 1.40% compared to CNY 261,213 million in 2013[37]. - The main business revenue was CNY 256,100 million, down 0.4% from CNY 257,126 million in the previous year[37]. Dividend Distribution - The profit distribution plan approved by the board is to distribute a cash dividend of 0.17 RMB per 10 shares based on a total of 1,145,642,349 shares, with no bonus shares issued[5]. - The company plans to distribute a cash dividend of 0.17 yuan per 10 shares, totaling 19,475,919.93 yuan for the year 2014[97]. - The cash dividend distribution accounted for 10.53% of the net profit attributable to shareholders in 2014[97]. - The company did not propose any capital reserve transfer to increase share capital for 2014[95]. Business Strategy and Development - The company plans to expand its market presence and invest in new technologies and products as part of its future strategy[13]. - The company aims to enhance its core capabilities and become a trusted system integration supplier in the aviation engine control industry[77]. - The company is focusing on strategic emerging industries and high-tech sectors, promoting innovation and transformation in non-aviation products[80]. - The company plans to adjust some of the investment projects due to changes in market and customer demand, which was approved in April 2015[70]. - The company aims to achieve a revenue target of 2.6 billion yuan for the year 2015[82]. Research and Development - Research and development expenditure was CNY 5,751,000, down 6.41% from the previous year[33]. - The company applied for 144 patents in 2014, with a year-on-year growth rate of 28.8%, and 77 patents were granted, marking a 67.4% increase in patent authorizations[53]. - Investment in R&D has increased by 30%, totaling 300 million RMB, focusing on innovative technologies and product development[160]. Risk Management - The company has established a comprehensive risk management framework to address potential operational risks[12]. - The company has established a comprehensive risk management system to enhance its risk control capabilities[89]. - The company will enhance risk management and internal control systems to address potential strategic, operational, and financial risks[88]. Corporate Governance - The company has adhered to corporate governance standards, ensuring compliance with laws and regulations, and has not faced any regulatory penalties during the reporting period[174]. - The company actively supervises the use of raised funds, with committee members visiting project sites to ensure compliance[186]. - The board of directors confirmed that there were no significant defects in internal control design or execution from January 1 to December 31, 2014[199]. Shareholder Information - The total number of shares increased to 1,145,642,349, with 82.30% being unrestricted shares[137]. - The shareholding structure includes 5.37% held by state-owned legal entities and 12.33% by other domestic investors[137]. - The largest shareholder, Xi'an Aviation Power Control Co., Ltd., holds 23.34% of the shares, totaling 267,438,629 shares[143]. Social Responsibility and Sustainability - The company actively undertakes social responsibility, establishing management institutions for employee assistance, poverty alleviation, and safety production[100]. - The company has developed green and energy-saving products, including distributed photovoltaic power generation projects and solar inverters, contributing to energy conservation and environmental protection[100]. - The company has achieved a significant reduction in pollutant emissions and energy consumption, successfully meeting all emission reduction targets[100]. Audit and Compliance - The company has engaged Ruihua Certified Public Accountants for auditing services during the reporting period[21]. - The Audit Committee held three meetings in 2014, discussing and approving various financial reports and internal control evaluations[183]. - The company received a positive evaluation of its internal audit work for 2013, with a focus on enhancing the 2014 audit plan[186].